Weekly Technical Analysis
Start your week by identifying the key price levels and trends.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
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Analysis
Germany 40
Germany 40 maintains its bullish momentum, currently trading at 22,687, well above its VWAP (20) of 21,802. The trend remains positive, with support at 20,930 and resistance at 22,700. An RSI reading of 80 signals strong momentum, though overbought conditions suggest a potential short-term pullback or consolidation before the next move.
UK 100
The UK 100 continues its bullish surge, currently positioned at 8,753, still holding above its VWAP (20) of 8,652. Immediate support is noted at 8,450, while resistance stands at 8,854. With an RSI of 62, momentum remains positive, though down from overbought levels following the 2-day pullback from record highs.
Wall Street
Wall Street remains in a corrective phase within its broader bullish trend, trading at 44,550, right at its VWAP (20) level of 44,550 and below record highs. Key support is identified at 44,097, while resistance is set at 44,988. RSI at 55 suggests moderate momentum, with the market consolidating before a new directional move.
Brent Crude
Brent Crude remains in a neutral consolidation phase, currently trading at 7474, slightly below its VWAP (20) of 7555. Support is forming at 7371, while resistance is overhead at 7739. The RSI at 44 indicates a lack of clear momentum, with potential for either a breakout or continued range-bound movement.
Gold
Gold remains in a strong impulsive bullish phase, currently priced at 2,898, comfortably above its VWAP (20) of 2,838. Support is established at 2,722, while resistance stands at 2,955. The RSI at 65 signals sustained bullish momentum, though a temporary pullback cannot be ruled out following such a long time in overbought conditions.
EUR/USD
EUR/USD remains in a neutral consolidation, trading at 1.0486, above its VWAP (20) of 1.0391. The pair is range-bound, with support at 1.0253 and resistance at 1.0529. RSI at 60 suggests fresh bullish momentum since last week, but a confirmed breakout over 1.05 is needed for a clearer trend.
GBP/USD
GBP/USD also remains in a neutral phase, trading at 1.2595, above its VWAP (20) of 1.2410. Key support is found at 1.2293, while resistance stands right at current levels near 1.2600. RSI at 62 is the most bullish momentum going back over 3 months, but the pair remains just about within a consolidative range while under 1.26.
USD/JPY
USD/JPY is in a bearish impulsive phase, currently at 151.63, below its VWAP (20) of 153.60. Support is firm at 150.39, while resistance extends to 156.81. The RSI at 37 indicates weak momentum, confirming the bearish sentiment, though the pair is still above the oversold territory reached earlier in the month.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
--------------------------------------------------------------------------------------------------------------
Analysis
Germany 40
Germany 40 maintains its bullish momentum, currently trading at 22,687, well above its VWAP (20) of 21,802. The trend remains positive, with support at 20,930 and resistance at 22,700. An RSI reading of 80 signals strong momentum, though overbought conditions suggest a potential short-term pullback or consolidation before the next move.
UK 100
The UK 100 continues its bullish surge, currently positioned at 8,753, still holding above its VWAP (20) of 8,652. Immediate support is noted at 8,450, while resistance stands at 8,854. With an RSI of 62, momentum remains positive, though down from overbought levels following the 2-day pullback from record highs.
Wall Street
Wall Street remains in a corrective phase within its broader bullish trend, trading at 44,550, right at its VWAP (20) level of 44,550 and below record highs. Key support is identified at 44,097, while resistance is set at 44,988. RSI at 55 suggests moderate momentum, with the market consolidating before a new directional move.
Brent Crude
Brent Crude remains in a neutral consolidation phase, currently trading at 7474, slightly below its VWAP (20) of 7555. Support is forming at 7371, while resistance is overhead at 7739. The RSI at 44 indicates a lack of clear momentum, with potential for either a breakout or continued range-bound movement.
Gold
Gold remains in a strong impulsive bullish phase, currently priced at 2,898, comfortably above its VWAP (20) of 2,838. Support is established at 2,722, while resistance stands at 2,955. The RSI at 65 signals sustained bullish momentum, though a temporary pullback cannot be ruled out following such a long time in overbought conditions.
EUR/USD
EUR/USD remains in a neutral consolidation, trading at 1.0486, above its VWAP (20) of 1.0391. The pair is range-bound, with support at 1.0253 and resistance at 1.0529. RSI at 60 suggests fresh bullish momentum since last week, but a confirmed breakout over 1.05 is needed for a clearer trend.
GBP/USD
GBP/USD also remains in a neutral phase, trading at 1.2595, above its VWAP (20) of 1.2410. Key support is found at 1.2293, while resistance stands right at current levels near 1.2600. RSI at 62 is the most bullish momentum going back over 3 months, but the pair remains just about within a consolidative range while under 1.26.
USD/JPY
USD/JPY is in a bearish impulsive phase, currently at 151.63, below its VWAP (20) of 153.60. Support is firm at 150.39, while resistance extends to 156.81. The RSI at 37 indicates weak momentum, confirming the bearish sentiment, though the pair is still above the oversold territory reached earlier in the month.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.